<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 30, 1998
GREEN TREE FINANCIAL CORPORATION
as originator of Home Improvement and
Home Equity Loan Trust 1998-D
-----------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-49951 41-1859796
------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification No.)
1100 Landmark Towers, 345 St. Peter Street, Saint Paul, Minnesota 55102-1639
-----------------------------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: (651) 293-3400
---------------
Not Applicable
------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 1. Changes in Control of Registrant.
--------------------------------
Not applicable.
Item 2. Acquisition or Disposition of Assets.
------------------------------------
Not applicable.
Item 3. Bankruptcy or Receivership.
--------------------------
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
----------------------------------------------
Not applicable.
Item 5. Other Events.
------------
On September 30, 1998, the Registrant sold $257,630,882.12 of home
improvement contract and closed-end home equity loans (together, the
"Subsequent Contracts") to the Home Improvement and Home Equity Loan
Trust 1998-D (the "Trust"), pursuant to the pre-funding provisions of
the Pooling and Servicing Agreement dated August 1, 1998, filed
herewith as Exhibit 99 are tables providing information with respect
to the Subsequent Contracts and the Contracts in the aggregate,
similar to the information provided with respect to the Initial
Contracts in the Prospectus dated August 14, 1998. Capitalized
terms used herein and not defined have the meaning assigned in the
Pooling and Servicing Agreement.
Item 6. Resignations of Registrant's Directors.
--------------------------------------
Not applicable.
Item 7. Financial Statements and Exhibits.
---------------------------------
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
2
<PAGE>
(c) Exhibits.
The following is filed herewith. The exhibit numbers correspond
with Item 601(b) of Regulation S-K.
Exhibit No. Description
----------- -----------
99 Information regarding Subsequent Contracts transferred
to the Home Improvement and Home Equity Loan Trust
1998-D on September 30, 1998.
3
<PAGE>
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
GREEN TREE FINANCIAL CORPORATION
as originator of Home Improvement
and Home Equity Loan Trust 1998-D
By: /s/ Joel H. Gottesman
---------------------------------------
Joel H. Gottesman
Senior Vice President, General Counsel
and Secretary
4
<PAGE>
INDEX TO EXHIBITS
Exhibit Number Page
- -------------- ----
99 Information regarding Subsequent Contracts Filed Electronically
transferred to the Home Improvement and Home
Equity Loan Trust 1998-D on September 30, 1998.
<PAGE>
Exhibit 99
Set forth below is a description of certain additional characteristics of
the Subsequent Home Improvement Contracts.
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--SUBSEQUENT HOME IMPROVEMENT
CONTRACTS
<TABLE>
<CAPTION>
% OF
% OF SUBSEQUENT
SUBSEQUENT HOME IMPROVEMENT
HOME IMPROVEMENT CONTRACTS BY
CONTRACTS BY AGGREGATE PRINCIPAL OUTSTANDING
NUMBER OF NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- --------------- ------------------- -------------
<S> <C> <C> <C> <C>
Alabama................. 27 1.70% $ 480,558.22 1.82%
Arizona................. 44 2.77 922,854.80 3.50
Arkansas................ 47 2.96 494,420.14 1.88
California.............. 206 12.97 5,541,855.54 21.03
Colorado................ 56 3.52 569,918.62 2.16
Connecticut............. 33 2.08 516,290.47 1.96
Delaware................ 3 .19 32,890.00 12
District of Columbia.... 1 .06 40,024.00 .15
Florida................. 59 3.71 1,099,732.29 4.17
Georgia................. 15 .94 300,603.85 1.14
Idaho................... 2 .13 20,895.45 .08
Iowa.................... 4 .25 45,994.88 .17
Illinois................ 59 3.71 778,163.06 2.95
Indiana................. 38 2.39 413,465.91 1.57
Kansas.................. 22 1.38 247,391.49 .94
Kentucky................ 6 .38 65,250.00 .25
Louisiana............... 11 .69 143,740.00 .55
Maine................... 20 1.26 251,908.28 .96
Maryland................ 35 2.20 537,816.41 2.04
Massachusetts........... 28 1.76 379,923.48 1.44
Michigan................ 96 6.04 1,444,790.02 5.48
Minnesota............... 14 .88 153,341.21 .58
Mississippi............. 8 .50 122,066.00 .46
Missouri................ 70 4.40 766,654.04 2.91
Montana................. 1 .06 8,506.32 .03
Nebraska................ 6 .38 60,771.60 .23
Nevada.................. 29 1.82 710,296.43 2.69
New Hampshire........... 11 .69 152,793.47 .58
New Jersey.............. 93 5.85 1,613,390.76 6.12
New Mexico.............. 22 1.38 278,839.52 1.06
New York................ 148 9.32 2,807,936.64 10.65
North Carolina.......... 32 2.01 511,092.79 1.94
North Dakota............ 1 .06 9,015.18 .03
Ohio.................... 73 4.59 745,267.97 2.83
Oklahoma................ 14 .88 239,583.90 .91
Oregon.................. 12 .75 192,725.79 .73
Pennsylvania............ 58 3.65 955,518.58 3.62
Rhode Island............ 18 1.13 288,680.65 1.09
South Carolina.......... 9 .57 120,256.00 .46
South Dakota............ 1 .06 9,770.00 .04
Tennessee............... 12 .75 158,381.51 .60
Texas................... 49 3.08 865,963.03 3.28
Utah.................... 6 .38 51,958.00 .20
Vermont................. 13 .82 158,995.40 .60
Virginia................ 41 2.58 589,383.52 2.24
Washington.............. 25 1.57 354,509.29 1.34
West Virginia........... 5 .31 36,260.00 .14
Wisconsin............... 5 .31 54,468.00 .21
Wyoming................. 2 .13 18,790.34 .07
----- ------ --------------- ------
Total............... 1,590 100.00% $ 26,363,702.85 100.00%
===== ====== =============== ======
</TABLE>
1
<PAGE>
YEARS OF ORIGINATION--SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT HOME
NUMBER OF IMPROVEMENT CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
1989...................... 1 $ 2,924.80 .01%
1997...................... 2 20,361.00 .08
1998...................... 1,587 26,340,417.05 99.91
----- --------------- ------
Total................. 1,590 $ 26,363,702.85 100.00%
===== =============== ======
</TABLE>
DISTRIBUTION OF ORIGINAL CONTRACT AMOUNTS--SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT HOME
NUMBER OF IMPROVEMENT CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL HOME IMPROVEMENT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACT AMOUNT (IN DOLLARS) OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than $10,000........... 467 $ 3,188,005.94 12.09%
Between $10,000--$19,999.... 661 9,584,629.23 36.36
Between $20,000--$29,999.... 304 7,306,204.54 27.71
Between $30,000--$39,999.... 94 3,116,215.15 11.82
Between $40,000--$49,999.... 37 1,604,473.81 6.09
Between $50,000--$59,999.... 20 1,037,804.82 3.94
Between $60,000--$69,999.... 3 187,836.66 .71
Between $70,000--$79,999.... 3 210,892.70 .80
Between $80,000--$119,999... 0 .00 .00
Over $120,000............ 1 127,640.00 .48
----- --------------- ------
Total................... 1,590 $ 26,363,702.85 100.00%
===== =============== ======
</TABLE>
CONTRACT RATES--SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT HOME
NUMBER OF IMPROVEMENT CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
RANGE OF HOME IMPROVEMENT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACTS BY CONTRACT RATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
-------------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
From 0.00000%-- 8.00000%... 3 $ 80,472.59 .31%
From 0.00008%-- 0.00009%... 19 496,345.86 1.88
From 9.00001%--10.00000%... 262 5,178,428.06 19.64
From 10.00001%--11.00000%... 358 7,610,303.35 28.87
From 11.00001%--12.00000%... 276 5,254,557.43 19.93
From 12.00001%--13.00000%... 343 4,329,637.19 16.42
From 13.00001%--14.00000%... 193 2,058,415.18 7.81
From 14.00001%--15.00000%... 128 1,270,333.39 4.82
From 15.00001%--16.00000%... 6 76,252.80 .29
From 16.00001%--17.00000%... 1 3,367.00 .01
Over 17.00000%.............. 1 5,590.00 .02
----- --------------- ------
Total................... 1,590 $ 26,363,702.85 100.00%
===== =============== ======
</TABLE>
2
<PAGE>
REMAINING MONTHS TO MATURITY--SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT HOME
NUMBER OF IMPROVEMENT CONTRACTS BY
MONTHS REMAINING TO CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
SCHEDULED MATURITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than 31.............. 9 $ 62,822.22 0.24%
31-60..................... 137 932,851.74 3.54
61-90..................... 76 656,805.47 2.49
91-120.................... 429 5,021,616.66 19.05
121-150................... 17 208,096.30 0.79
151-180................... 384 6,423,994.24 24.37
181-210................... 1 24,012.00 0.09
211-240................... 160 3,132,428.05 11.88
241-270................... 0 0.00 0.00
271-300................... 376 9,886,043.17 37.49
301-330................... 0 0.00 0.00
331-360................... 1 15,033.00 0.06
----- -------------- ------
Total................. 1590 $26,363,702.85 100.00%
===== ============== ======
</TABLE>
LIEN POSITION--SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME % OF SUBSEQUENT
IMPROVEMENT HOME IMPROVEMENT
NUMBER OF CONTRACTS BY CONTRACTS BY
CONTRACTS NUMBER OF AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- CONTRACTS AS OF BALANCE OUTSTANDING BALANCE AS OF
OFF DATE CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------- --------------- ------------------- ---------------------
<S> <C> <C> <C> <C>
First................... 114 7.17% $ 1,510,683.21 5.73%
Second.................. 1,213 76.29 20,421,627.89 77.46
Third................... 260 16.35 4,387,868.75 16.64
Fourth.................. 3 0.19 43,523.00 0.17
----- ------ --------------- ------
Total............... 1,590 100.00% $ 26,363,702.85 100.00%
===== ====== =============== ======
</TABLE>
3
<PAGE>
Set forth below is a description of certain additional characteristics of
the Subsequent Fixed-Rate Home Equity Contracts.
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--SUBSEQUENT FIXED-RATE HOME
EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT
% OF SUBSEQUENT FIXED-RATE
FIXED-RATE HOME EQUITY
HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING
NUMBER OF BY NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- --------------- ------------------- -------------
<S> <C> <C> <C> <C>
Alabama................. 131 4.31% $ 5,944,118.35 3.30%
Arizona................. 24 0.79 1,295,499.24 0.72
Arkansas................ 25 0.82 1,230,887.28 0.68
California.............. 136 4.48 10,341,215.70 5.74
Colorado................ 38 1.25 2,024,634.72 1.13
Connecticut............. 34 1.12 2,250,253.20 1.25
Delaware................ 27 0.89 2,097,602.66 1.17
District of Columbia.... 1 0.03 27,367.24 0.02
Florida................. 105 3.46 6,314,435.97 3.51
Georgia................. 84 2.76 4,664,368.97 2.59
Idaho................... 12 0.39 410,519.98 0.23
Illinois................ 157 5.17 10,684,598.79 5.93
Indiana................. 71 2.34 3,937,170.81 2.19
Iowa.................... 77 2.53 3,949,181.83 2.20
Kansas.................. 81 2.67 5,084,525.96 2.83
Kentucky................ 52 1.71 2,994,895.42 1.66
Louisiana............... 75 2.47 3,708,694.06 2.06
Maine................... 7 0.23 366,200.72 0.20
Maryland................ 54 1.78 3,330,261.67 1.85
Massachusetts........... 33 1.09 2,648,628.70 1.47
Michigan................ 188 6.19 11,874,787.35 6.59
Minnesota............... 82 2.70 4,581,147.78 2.55
Mississippi............. 42 1.38 2,009,138.05 1.12
Missouri................ 106 3.49 6,198,257.94 3.45
Montana................. 5 0.16 434,838.65 0.24
Nebraska................ 28 0.92 1,617,691.03 0.90
Nevada.................. 27 0.89 2,123,082.52 1.18
New Hampshire........... 3 0.10 291,000.00 0.16
New Jersey.............. 23 0.76 1,938,032.15 1.08
New Mexico.............. 13 0.43 894,447.38 0.50
New York................ 103 3.39 7,317,636.43 4.07
North Carolina.......... 164 5.40 9,987,390.09 5.54
North Dakota............ 13 0.43 633,950.00 0.35
Ohio.................... 219 7.22 11,826,299.33 6.56
Oklahoma................ 23 0.76 1,021,306.62 0.57
Oregon.................. 28 0.92 1,917,228.58 1.07
Pennsylvania............ 169 5.56 9,767,694.16 5.43
Rhode Island............ 8 0.26 202,830.43 0.11
South Carolina.......... 92 3.03 6,095,033.03 3.39
South Dakota............ 8 0.26 409,006.42 0.23
Tennessee............... 72 2.37 4,705,111.36 2.62
Texas................... 148 4.87 6,650,624.72 3.70
Utah.................... 15 0.49 661,512.01 0.37
Virginia................ 70 2.30 4,149,831.31 2.31
Vermont................. 1 0.03 10,000.00 0.01
Washington.............. 54 1.78 2,927,426.61 1.63
West Virginia........... 6 0.20 507,475.00 0.28
Wisconsin............... 101 3.32 5,712,402.37 3.18
Wyoming................. 3 0.10 140,189.10 0.08
----- ------ --------------- ------
Total............... 3,038 100.00% $179,910,431.69 100.00%
===== ====== =============== ======
</TABLE>
4
<PAGE>
Years Of Origination--Subsequent Fixed-Rate Home Equity Contracts
<TABLE>
<CAPTION>
% OF SUBSEQUENT FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
1990................... 1 114,583.06 0.06%
1996................... 1 59,316.62 0.03
1997................... 11 633,997.44 0.35
1998................... 3,025 179,102,534.57 99.56
----- --------------- ------
Total.............. 3,038 $179,910,431.69 100.00%
===== =============== ======
</TABLE>
Distribution Of Original Contract Amounts--Subsequent Fixed-Rate Home Equity
Contracts
<TABLE>
<CAPTION>
% OF SUBSEQUENT FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL CONTRACT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AMOUNT (IN DOLLARS) OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than $ 9,999....................... 2 $ 19,750.00 0.01%
Between $ 9,999--$ 19,999............... 433 6,386,032.40 3.55
Between $ 19,999--$ 29,999............... 443 10,891,377.73 6.05
Between $ 29,999--$ 39,999............... 342 11,900,258.61 6.61
Between $ 39,999--$ 49,999............... 318 14,299,502.56 7.95
Between $ 49,999--$ 59,999............... 325 17,766,312.58 9.87
Between $ 59,999--$ 69,999............... 232 14,971,969.42 8.32
Between $ 69,999--$ 79,999............... 232 17,237,323.46 9.58
Between $ 79,999--$ 89,999............... 167 14,053,958.65 7.81
Between $ 89,999--$ 99,999............... 115 10,881,668.37 6.05
Between $ 99,999--$109,999............... 96 10,065,069.63 5.59
Between $109,999--$119,999............... 72 8,217,143.74 4.57
Between $119,999--$129,999............... 48 5,969,277.47 3.32
Between $129,999--$139,999............... 49 6,578,734.50 3.66
Between $139,999--$149,999............... 23 3,321,012.69 1.85
Between $149,999--$159,999............... 30 4,634,021.70 2.58
Between $159,999--$169,999............... 21 3,449,507.43 1.92
Between $169,999--$179,999............... 20 3,469,642.64 1.93
Between $179,999--$189,999............... 7 1,274,365.35 0.71
Between $189,999--$199,999............... 19 3,699,971.54 2.06
Between $199,999--$249,999............... 26 5,603,530.77 3.11
Between $249,999--$299,999............... 11 3,010,331.35 1.67
Over $300,000.......................... 7 2,209,669.10 1.23
----- --------------- ------
Total................................ 3,038 $179,910,431.69 100.00%
===== =============== ======
</TABLE>
5
<PAGE>
CONTRACT RATES--SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
RANGE OF HOME EQUITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACTS BY CONTRACT RATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- -------------------------- ---------- ------------------- --------------------------
<S> <C> <C> <C>
From 0.00%-- 9.00%....... 68 $ 7,278,702.52 4.05%
From 9.01%--10.00%....... 322 28,990,257.88 16.11
From 10.01%--11.00%....... 665 58,040,132.24 32.25
From 11.01%--12.00%....... 502 30,150,363.20 16.76
From 12.01%--13.00%....... 676 28,879,772.07 16.05
From 13.01%--14.00%....... 522 17,795,391.38 9.89
From 14.01%--15.00%....... 165 5,552,569.44 3.09
From 15.01%--16.00%....... 62 1,889,861.90 1.05
From 16.01%--17.00%....... 34 873,397.33 0.49
Over 17.01%............... 22 459,983.73 0.26
----- --------------- ------
Total................. 3,038 $179,910,431.69 100.00%
===== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY--SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
MONTHS REMAINING TO CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
SCHEDULED MATURITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- --------------------------
<S> <C> <C> <C>
Less than 60........... 29 $ 667,928.46 0.37%
61-90................ 14 577,777.06 0.32
91-120................ 170 4,926,143.18 2.74
121-150................ 20 959,750.59 0.53
151-180................ 1,098 55,386,433.55 30.79
181-210................ 6 222,884.68 0.12
211-240................ 932 56,388,772.56 31.35
241-270................ 1 114,583.06 0.06
271-300................ 426 29,629,929.67 16.47
301-330................ -- -- 0.00
331-360................ 342 31,036,228.88 17.25
----- --------------- ------
Total.............. 3,038 $179,910,431.69 100.00%
===== =============== ======
</TABLE>
LIEN POSITION--SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT
FIXED-RATE
HOME EQUITY % OF SUBSEQUENT FIXED-RATE
NUMBER OF CONTRACTS BY HOME EQUITY CONTRACTS BY
CONTRACTS NUMBER OF AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- CONTRACTS AS OF BALANCE OUTSTANDING BALANCE AS OF
OFF DATE CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------- --------------- ------------------- --------------------------
<S> <C> <C> <C> <C>
First................... 1,919 63.16% $147,640,304.65 82.06%
Second.................. 1,016 36.41 31,945,741.04 17.76
Third................... 13 0.43 324,386.00 0.18
----- ------ --------------- ------
Total............... 3,038 100.00% $179,910,431.69 100.00%
===== ====== =============== ======
</TABLE>
6
<PAGE>
LOAN-TO-VALUE RATIO--SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
LOAN-TO-VALUE RATIO OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
From 0.00%-20.00%..... 15 $ 268,487.80 0.15%
From 20.01%-30.00%..... 24 526,170.18 0.29
From 30.01%-40.00%..... 28 800,635.48 0.45
From 40.01%-50.00%..... 42 1,430,699.34 0.80
From 50.01%-60.00%..... 63 2,544,035.24 1.41
From 60.01%-70.00%..... 133 6,517,645.18 3.62
From 70.01%-80.00%..... 421 22,387,869.11 12.44
From 80.01%-90.00%..... 1,006 65,498,665.74 36.41
Over 90.01%............ 1,306 79,936,223.62 44.43
----- --------------- ------
Total.............. 3,038 $179,910,431.69 100.00%
===== =============== ======
</TABLE>
7
<PAGE>
Set forth below is a description of certain additional characteristics of the
Subsequent Adjustable Rate Home Equity Contracts.
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--SUBSEQUENT ADJUSTABLE RATE
HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT
% OF SUBSEQUENT ADJUSTABLE
ADJUSTABLE RATE HOME
RATE HOME EQUITY CONTRACTS
EQUITY CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING
NUMBER OF BY NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- ----------------- ------------------- -----------------
<S> <C> <C> <C> <C>
Alabama................. 27 6.35% $ 2,323,485.29 4.52%
Arizona................. 5 1.18 678,766.05 1.32
California.............. 46 10.81 8,627,561.24 16.81
Colorado................ 20 4.71 2,672,883.42 5.20
Connecticut............. 1 0.24 102,754.42 0.20
Delaware................ 1 0.24 167,706.10 0.33
Florida................. 17 4.00 1,888,050.43 3.68
Georgia................. 14 3.29 1,503,611.77 2.93
Idaho................... 4 0.94 398,910.00 0.78
Illinois................ 13 3.06 1,629,998.82 3.17
Indiana................. 12 2.82 872,751.23 1.70
Iowa.................... 2 0.47 173,621.34 0.34
Kansas.................. 4 0.94 530,827.23 1.03
Kentucky................ 4 0.94 310,017.70 0.60
Louisiana............... 2 0.47 174,439.50 0.34
Maryland................ 11 2.59 1,865,064.88 3.63
Massachusetts........... 7 1.65 1,375,850.00 2.68
Michigan................ 10 2.35 1,064,946.00 2.07
Minnesota............... 5 1.18 510,141.55 0.99
Mississippi............. 2 0.47 116,926.61 0.23
Missouri................ 3 0.71 311,970.00 0.61
Montana................. 1 0.24 125,000.00 0.24
Nebraska................ 1 0.24 66,280.82 0.13
Nevada.................. 9 2.12 1,259,988.50 2.45
New Jersey.............. 3 0.71 565,146.88 1.10
New Mexico.............. 6 1.41 573,826.89 1.12
New York................ 5 1.18 667,135.04 1.30
North Carolina.......... 34 7.99 3,564,799.60 6.94
North Dakota............ 1 0.24 51,920.72 0.10
Ohio.................... 36 8.46 3,527,274.27 6.87
Oregon.................. 20 4.71 2,572,613.64 5.01
Pennsylvania............ 7 1.65 665,324.95 1.30
Rhode Island............ 2 0.47 195,255.00 0.38
South Carolina.......... 5 1.18 325,483.67 0.63
Tennessee............... 5 1.18 504,956.68 0.98
Texas................... 18 4.24 1,715,741.40 3.34
Utah.................... 14 3.29 1,762,211.57 3.43
Virginia................ 7 1.65 963,044.01 1.88
Washington.............. 29 6.81 3,673,056.18 7.15
Wisconsin............... 12 2.82 1,277,404.18 2.49
--- ------ --------------- ------
Total............... 425 100.00% $ 51,356,747.58 100.00%
=== ====== =============== ======
</TABLE>
8
<PAGE>
YEARS OF ORIGINATION--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT
ADJUSTABLE RATE
HOME EQUITY
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
1997...................... 2 $ 253,576.78 0.49%
--- --------------- ------
1998...................... 423 51,103,170.80 99.51
--- --------------- ------
Total................. 425 $ 51,356,747.58 100.00%
=== =============== ======
</TABLE>
DISTRIBUTION OF ORIGINAL CONTRACT AMOUNTS--SUBSEQUENT ADJUSTABLE RATE HOME
EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT
ADJUSTABLE RATE
HOME EQUITY
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL CONTRACT AMOUNT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
(IN DOLLARS) OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------------ ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than $ 39,999......................... 5 $ 178,910.58 0.35%
Between $ 39,999--$ 49,999................. 14 622,422.48 1.21
Between $ 49,999--$ 59,999................. 20 1,101,786.76 2.15
Between $ 59,999--$ 69,999................. 30 1,934,153.47 3.77
Between $ 69,999--$ 79,999................. 36 2,676,107.90 5.21
Between $ 79,999--$ 89,999................. 42 3,568,234.29 6.95
Between $ 89,999--$ 99,999................. 33 3,126,733.85 6.09
Between $ 99,999--$109,999................. 48 5,002,454.83 9.73
Between $109,999--$119,999................. 30 3,436.715.75 6.69
Between $119,999--$129,999................. 27 3,364,459.23 6.55
Between $129,999--$139,999................. 20 2,695,856.12 5.25
Between $139,999--$149,999................. 17 2,448,082.13 4.77
Between $149,999--$159,999................. 21 3,235,618.89 6.30
Between $159,999--$169,999................. 16 2,615,880.99 5.09
Between $169,999--$179,999................. 10 1,751,531.04 3.41
Between $179,999--$189,999................. 7 1,279,614.04 2.49
Between $189,999--$199,999................. 7 1,373,013.79 2.67
Between $199,999--$249,999................. 22 4,953.871.74 9.65
Between $249,999--$299,999................. 10 2,663,868.67 5.19
Over $300,000.............................. 10 3,327,431.02 6.48
--- --------------- ------
Total.................................. 425 $ 51,356,747.58 100.00%
=== =============== ======
</TABLE>
9
<PAGE>
CONTRACT RATES--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE
HOME EQUITY
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
RANGE OF CONTRACTS BY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACT RATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
From 0.00%-- 9.00%....... 246 $ 31,567,083.29 61.46%
From 9.01%--10.00%....... 135 15,633,050.01 30.44
From 10.01%--11.00%....... 31 3,008,086.78 5.86
From 11.01%--12.00%....... 10 932,780.27 1.82
From 12.01%--13.00%....... 2 159,047.23 0.31
Over 13.01%............... 1 56,700.00 0.11
--- --------------- ------
Total................. 425 $ 51,356,747.58 100.00%
=== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY--SUBSEQUENT ADJUSTABLE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE HOME
NUMBER OF EQUITY CONTRACTS BY
MONTHS REMAINING TO CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
SCHEDULED MATURITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than 330............. 0 $ 0.00 0.00%
330-360................... 425 51,356,747.58 100.00
--- -------------- ------
Total................. 425 51,356,747.58 100.00%
=== ============== ======
</TABLE>
LIEN POSITION--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE % OF
RATE HOME SUBSEQUENT
EQUITY ADJUSTABLE RATE HOME
NUMBER OF CONTRACTS BY EQUITY CONTRACTS BY
CONTRACTS NUMBER OF AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- CONTRACTS AS OF BALANCE OUTSTANDING BALANCE AS OF
OFF DATE CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------- --------------- ------------------- ---------------------
<S> <C> <C> <C> <C>
First................... 425 100.00% $ 51,356,747.58 100.00%
--- ------ --------------- ------
Total............... 425 100.00% $ 51,356,747.58 100.00%
=== ====== =============== ======
</TABLE>
10
<PAGE>
LOAN-TO-VALUE RATIO--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE HOME
NUMBER OF EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
LOAN-TO-VALUE RATIO OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than 40.00%.......... 1 $ 49,969.08 0.10%
From 40.01% to 50.00%..... 0 0.00 0.00
From 50.01% to 60.00%..... 1 120,000.00 0.23
From 60.01% to 70.00%..... 10 893,725.81 1.74
From 70.01% to 80.00%..... 104 12,631,822.54 24.60
From 80.01% to 90.00%..... 247 30,390,234.65 59.17
Over 90.00%............... 62 7,270,995.50 14.16
--- --------------- ------
Total................. 425 $ 51,356,747.58 100.00%
=== =============== ======
</TABLE>
MONTH OF NEXT RATE ADJUSTMENT--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MONTH OF NEXT RATE ADJUSTMENT OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ----------------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
October 1998................ 1 $ 70,046.38 0.14%
December 1998............... 2 169,233.21 0.33
May 1999.................... 1 167,706.10 0.33
November 1999............... 2 253,576.78 0.49
January 2000................ 3 400,113.85 0.78
February 2000............... 1 113,247.68 0.22
March 2000.................. 4 435,350.34 0.85
April 2000.................. 15 1,688,002.96 3.29
May 2000.................... 41 5,476,473.67 10.66
June 2000................... 97 12,419,910.73 24.18
July 2000................... 189 22,971,022.20 44.72
August 2000................. 63 6,388,313.00 12.44
April 2001.................. 1 52,919.90 0.10
May 2001.................... 1 154,581.62 0.30
June 2001................... 1 182,599.16 0.36
July 2001................... 1 147,250.00 0.29
August 2001................. 1 126,000.00 0.25
July 2028................... 1 140,400.00 0.27
--- --------------- ------
Total................... 425 $ 51,356,747.58 100.00%
=== =============== ======
</TABLE>
11
<PAGE>
DISTRIBUTION OF GROSS MARGIN--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
GROSS MARGIN OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------ ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 4.499%....... 3 $ 506,069.11 0.99%
4.499% to 4.749........ 2 493,073.05 0.96
4.750 to 4.999......... 8 725,196.63 1.41
5.000 to 5.249......... 11 1,488,210.74 2.90
5.250 to 5.499......... 15 1,809,235.18 3.52
5.500 to 5.749......... 23 2,528,081.78 4.92
5.750 to 5.999......... 59 6,612,918.14 12.88
6.000 to 6.249......... 33 3,832,943.99 7.46
6.250 to 6.499......... 40 4,858,255.97 9.46
6.500 to 6.749......... 34 4,477,044.97 8.72
6.750 to 6.999......... 78 10,236,832.01 19.92
7.000 to 7.249......... 64 7,541,948.90 14.69
7.250 to 7.499......... 18 2,625,277.19 5.11
7.500 to 7.749......... 17 1,505,751.32 2.93
7.750 to 7.999......... 3 192,417.25 0.37
8.000 to 8.249......... 7 882,023.02 1.72
8.250 to 8.499......... 1 74,606.37 0.15
8.500 to 8.749......... 5 649,969.54 1.27
8.750 to 8.999......... 2 188,217.87 0.37
Over 8.999%............ 2 128,674.55 0.25
--- --------------- ------
Total.............. 425 $ 51,356,747.58 100.00%
=== =============== ======
</TABLE>
12
<PAGE>
MAXIMUM CONTRACT RATES--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MAXIMUM CONTRACT RATES OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 13.00%...... 11 $ 1,643,922.09 3.20%
13.000 - 13.249%...... 1 196,000.00 0.38
13.250 - 13.499%...... 1 107,918.06 0.21
13.500 - 13.749%...... 9 1,546,374.63 3.01
13.750 - 13.999%...... 46 5,690,983.89 11.08
14.000 - 14.249%...... 8 995,333.56 1.94
14.250 - 14.499%...... 33 3,615,696.06 7.04
14.500 - 14.749%...... 26 3,143,902.21 6.12
14.750 - 14.999%...... 59 8,095,581.45 15.75
15.000 - 15.249%...... 20 2,227,911.49 4.34
15.250 - 15.499%...... 42 5,283,908.08 10.29
15.500 - 15.749%...... 33 3,891,124.04 7.58
15.750 - 15.999%...... 47 5,817,814.59 11.33
16.000 - 16.249%...... 10 760,233.86 1.48
16.250 - 16.499%...... 20 2,140,590.76 4.17
16.500 - 16.749%...... 12 1,157,956.25 2.25
16.750 - 16.999%...... 23 2,866,626.94 5.58
17.000 - 17.249%...... 4 225,945.35 0.44
17.250 - 17.499%...... 5 475,193.00 0.93
17.500 - 17.749%...... 5 594,987.90 1.16
17.750 - 17.999%...... 5 413,456.91 0.81
18.000 - 18.249%...... 2 246,776.84 0.48
18.250 - 18.499%...... 0 0.00 0.00
18.500 - 18.749%...... 2 161,809.62 0.32
18.750 - 18.999%...... 0 0.00 0.00
19.000 - 19.249%...... 1 56,700.00 0.11
Over 19.250%.......... 0 0.00 0.00
--- --------------- ------
Total............. 425 $ 51,356,747.58 100.00%
=== =============== ======
</TABLE>
13
<PAGE>
MINIMUM CONTRACT RATES--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MINIMUM CONTRACT RATES OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 7.250%...... 5 $ 891,733.33 1.74%
7.250 to 7.499%...... 1 107,918.06 0.21
7.500 to 7.749%...... 14 2,311,163.32 4.50
7.750 to 7.999%...... 59 7,822,984.90 15.24
8.000 to 8.249%...... 10 1,281,172.94 2.49
8.250 to 8.499%...... 49 6,047,802.60 11.78
8.500 to 8.749%...... 40 4,639,221.26 9.03
8.750 to 8.999%...... 66 8,071.492.96 15.73
9.000 to 9.249%...... 20 2,096,913.64 4.08
9.250 to 9.499%...... 44 4,926,845.09 9.59
9.500 to 9.749%...... 27 3,181,159.47 6.19
9.750 to 9.999%...... 45 5,776,125.53 11.25
10.000 to 10.249%...... 8 581,797,12 1.13
10.250 to 10.499%...... 10 875,465.94 1.70
10.500 to 10.749%...... 9 952,769.42 1.86
10.750 to 10.999%...... 5 643,654.39 1.25
11.000 to 11.249%...... 4 351,165,91 0.68
11.250 to 11.499%...... 1 147,250,00 0.29
11.500 to 11.749%...... 0 0.00 0.00
11.750 to 11.999%...... 3 242,398.01 0.47
12.000 to 12.249%...... 2 191,966.35 0.37
12.250 to 12.499%...... 1 113,247.68 0.22
12.500 to 12.749%...... 1 45,799.55 0.09
12.750 to 12.999%...... 0 0.00 0.00
Over 12.999%........... 1 56,700.00 0.11
--- --------------- ------
Total................ 425 $ 51,356,747.58 100.00%
=== =============== ======
</TABLE>
14
<PAGE>
Set forth below is a description of certain additional characteristics of
the Initial and Subsequent Home Improvement Contracts.
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--INITIAL AND SUBSEQUENT
HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME
% OF HOME IMPROVEMENT
IMPROVEMENT CONTRACTS BY
CONTRACTS BY AGGREGATE PRINCIPAL OUTSTANDING
NUMBER OF NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- --------------- ------------------- -------------
<S> <C> <C> <C> <C>
Alabama................. 286 1.86% $ 6,424,462.95 2.14%
Arizona................. 550 3.57 11,434,633.22 3.81
Arkansas................ 321 2.08 3,875,479.97 1.29
California.............. 1,830 11.90 52,064,405.01 17.37
Colorado................ 555 3.60 6,951,633.30 2.32
Connecticut............. 364 2.36 6,553,825.48 2.18
Delaware................ 55 .36 1,016,314.42 .34
District of Columbia.... 6 .04 128,813.37 .04
Florida................. 771 5.02 15,125,223.30 5.04
Georgia................. 137 .89 2,684,937.00 .90
Idaho................... 29 .19 559,933.41 .19
Illinois................ 585 3.80 9,841,917.19 3.28
Indiana................. 338 2.20 4,714,250.89 1.57
Iowa.................... 49 .32 660,953.81 .22
Kansas.................. 161 1.05 2,712,447.89 .90
Kentucky................ 69 .45 1,051,113.69 .35
Louisiana............... 117 .76 2,533,951.90 .84
Maine................... 188 1.22 3,512,636.15 1.17
Maryland................ 233 1.51 4,244,465.23 1.41
Massachusetts........... 264 1.71 5,376,659.97 1.79
Michigan................ 883 5.74 15,411,856.47 5.14
Minnesota............... 233 1.51 4,424,547.36 1.47
Mississippi............. 57 .37 1,281,081.08 .43
Missouri................ 501 3.25 6,744,191.60 2.25
Montana................. 25 .16 462,898.61 .15
Nebraska................ 59 .38 831,703.72 .28
Nevada.................. 339 2.20 8,692,330.55 2.90
New Hampshire........... 100 .65 1,880,231.42 .63
New Jersey.............. 939 6.11 19,137,153.24 6.38
New Mexico.............. 127 .82 2,435,589.75 .81
New York................ 1,298 8.44 26,411,130.57 8.80
North Carolina.......... 233 1.51 3,526,959.88 1.18
North Dakota............ 26 .17 646,055.37 .22
Ohio.................... 619 4.02 8,438,620.67 2.81
Oklahoma................ 179 1.16 3,254,291.79 1.08
Oregon.................. 108 .70 2,027,375.35 .68
Pennsylvania............ 689 4.47 12,832,173.86 4.28
Rhode Island............ 103 .67 1,485,511.52 .50
South Carolina.......... 148 .96 2,556,515.34 .85
South Dakota............ 16 .10 469,166.99 .16
Tennessee............... 174 1.13 2,482,736.76 .83
Texas................... 672 4.36 15,662,699.58 5.22
Utah.................... 42 .27 578,149.00 .19
Vermont................. 30 .19 423,764.80 .14
Virginia................ 471 3.06 8,667,708.31 2.89
Washington.............. 237 1.54 4,722,011.92 1.57
West Virginia........... 49 .32 946,104.73 .32
Wisconsin............... 59 .38 877,396.44 .29
Wyoming................. 73 .47 1,192,183.18 .40
------ ------ --------------- ------
Total............... 15,397 100.00% $299,970,198.01 100.00%
====== ====== =============== ======
</TABLE>
15
<PAGE>
YEARS OF ORIGINATION--INITIAL AND SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME IMPROVEMENT
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
1989...................... 1 $ 2,924.80 .00%
1995...................... 1 14,564.50 .03
1996...................... 3 188,956.94 .06
1997...................... 286 5,605,789.46 1.87
1998...................... 15,104 294,104,066.26 98.04
------ --------------- ------
Total................. 15,397 $299,970,198.01 100.00%
====== =============== ======
</TABLE>
DISTRIBUTION OF ORIGINAL CONTRACT AMOUNTS--INITIAL AND SUBSEQUENT HOME
IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME IMPROVEMENT
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL HOME IMPROVEMENT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACT AMOUNT (IN DOLLARS) OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than $ 10,000........... 3,396 $ 23,460,365.75 7.82%
Between $ 10,000--$ 19,999... 6,059 88,361,138.01 29.46
Between $ 20,000--$ 29,999... 3,475 83,535,833.70 27.85
Between $ 30,000--$ 39,999... 1,301 43,730,088.42 14.58
Between $ 40,000--$ 49,999... 683 29,563,843.79 9.86
Between $ 50,000--$ 59,999... 294 15,290,299.49 5.10
Between $ 60,000--$ 69,999... 62 3,941,204.98 1.31
Between $ 70,000--$ 79,999... 49 3,628,416.75 1.21
Between $ 80,000--$ 89,999... 21 1,773,648.16 .59
Between $ 90,000--$ 99,999... 15 1,428,298.48 .48
Between $100,000--$109,999... 12 1,252,605.44 .42
Between $110,000--$119,999... 12 1,381,760.48 .46
Between $120,000--$129,999... 9 1,151,595.00 .38
Between $130,000--$139,999... 2 266,444.75 .09
Between $140,000--$149,999... 1 145,790.00 .05
Between $150,000--$159,999... 3 464,251.00 .15
Between $160,000--$169,999... 0 .00 .00
Between $170,000--$179,999... 1 178,661.26 .06
Between $180,000--$189,999... 0 .00 .00
Between $190,000--$199,999... 1 191,944.05 .06
Over $200,000............. 1 224,008.50 .07
------ --------------- ------
Total.................... 15,397 $299,970,198.01 100.00%
====== =============== ======
</TABLE>
CONTRACT RATES--INITIAL AND SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME IMPROVEMENT
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
RANGE OF HOME IMPROVEMENT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACTS BY CONTRACT RATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
-------------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
From 0.0000%-- 7.00000%... 1 $ 29,710.20 .01%
From 7.00001%-- 8.00000%... 16 542,594.46 .18
From 8.00001%-- 9.00000%... 540 10,832,456.71 3.61
From 9.00001%--10.00000%... 2,261 50,951,345.58 16.99
From 10.00001%--11.00000%... 3,306 73,417,427.15 24.47
From 11.00001%--12.00000%... 2,272 48,796,102.02 16.27
From 12.00001%--13.00000%... 2,736 48,038,052.79 16.01
From 13.00001%--14.00000%... 2,323 34,650,379.64 11.55
From 14.00001%--15.00000%... 1,540 24,540,219.19 8.18
From 15.00001%--16.00000%... 319 6,344,797.17 2.12
From 16.00001%--17.00000%... 73 1,628,570.84 .54
Over 17.00001%.............. 10 198,542.26 .07
------ --------------- ------
Total................... 15,397 $299,970,198.01 100.00%
====== =============== ======
</TABLE>
16
<PAGE>
REMAINING MONTHS TO MATURITY--INITIAL AND SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME IMPROVEMENT
NUMBER OF CONTRACTS BY
MONTHS REMAINING TO CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
SCHEDULED MATURITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than 31.............. 43 $ 226,085.10 0.08%
31-60..................... 1,134 9,526,484.87 3.18
61-90..................... 592 5,528,856.91 1.84
91-120.................... 3,868 51,918,319.06 17.31
121-150................... 195 2,584,389.97 0.86
151-180................... 3,764 72,870,881.29 24.29
181-210................... 7 162,972.75 0.05
211-240................... 1,733 38,918,001.37 12.97
241-270................... 4 78,753.61 0.03
271-300................... 4,055 118,115,147.29 39.38
301-330................... 0 0.00 0.00
331-360................... 2 40,305.79 0.01
------ --------------- ------
Total................. 15,397 $299,970,198.01 100.00%
====== =============== ======
</TABLE>
LIEN POSITION--INITIAL AND SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME % OF HOME
IMPROVEMENT IMPROVEMENT
NUMBER OF CONTRACTS BY CONTRACTS BY
CONTRACTS NUMBER OF AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- CONTRACTS AS OF BALANCE OUTSTANDING BALANCE AS OF
OFF DATE CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------- --------------- ------------------- ---------------------
<S> <C> <C> <C> <C>
First................... 1,305 8.48% $ 32,006,400.50 10.67%
Second.................. 11,455 74.40 218,338,145.60 72.78
Third................... 2,615 16.98 49,246,690.76 16.42
Fourth.................. 22 0.14 378,961.15 0.13
------ ------ --------------- ------
Total............... 15,397 100.00% $299,970,198.01 100.00%
====== ====== =============== ======
</TABLE>
17
<PAGE>
Set forth below is a description of certain additional characteristics of
the Initial and Subsequent Fixed-Rate Home Equity Contracts.
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--INITIAL AND SUBSEQUENT
FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
% OF FIXED-RATE
FIXED-RATE HOME EQUITY
HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING
NUMBER OF BY NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- --------------- ------------------- -------------
<S> <C> <C> <C> <C>
Alabama ................ 631 4.50% $ 31,604,116.06 3.83%
Arizona ................ 189 1.35 9,393,791.74 1.14
Arkansas ............... 84 0.60 4,661,405.17 0.57
California ............. 608 4.34 51,143,932.49 6.19
Colorado ............... 228 1.63 11,760,920.39 1.43
Connecticut ............ 161 1.15 11,533,032.48 1.40
Delaware ............... 83 0.59 6,643,149.27 0.81
District of Columbia ... 26 0.19 1,639,949.20 0.20
Florida ................ 589 4.20 32,723,224.88 3.97
Georgia ................ 390 2.78 21,820,560.44 2.64
Idaho .................. 50 0.36 2,239,288.21 0.27
Illinois ............... 789 5.63 51,530,435.03 6.24
Indiana ................ 358 2.55 17,919,594.04 2.17
Iowa ................... 334 2.38 18,273,820.60 2.22
Kansas ................. 284 2.03 16,082,222.83 1.95
Kentucky ............... 203 1.45 10,688,537.46 1.30
Louisiana .............. 293 2.09 14,893,380.51 1.81
Maine .................. 21 0.15 1,308,012.68 0.16
Maryland ............... 303 2.16 18,483,727.71 2.24
Massachusetts .......... 194 1.38 14,897,773.37 1.81
Michigan ............... 896 6.38 55,343,761.15 6.70
Minnesota .............. 350 2.50 20,839,754.26 2.53
Mississippi ............ 160 1.14 7,071,146.90 0.86
Missouri ............... 489 3.49 26,147,425.39 3.17
Montana ................ 14 0.10 1,061,040.64 0.13
Nebraska ............... 140 1.00 8,115,182.12 0.98
Nevada ................. 149 1.06 13,045,507.11 1.58
New Hampshire .......... 18 0.13 1,216,228.26 0.15
New Jersey ............. 180 1.28 14,087,939.69 1.71
New Mexico ............. 55 0.39 3,426,234.13 0.42
New York ............... 486 3.47 32,095,200.80 3.89
North Carolina ......... 681 4.86 40,774,585.93 4.94
North Dakota ........... 43 0.31 2,388,740.90 0.29
Ohio ................... 979 6.99 50,027,438.60 6.05
Oklahoma ............... 129 0.92 6,245,470.59 0.76
Oregon ................. 133 0.95 7,104,719.08 0.86
Pennsylvania ........... 732 5.22 41,898,334.89 5.08
Rhode Island ........... 50 0.36 2,725,957.55 0.33
South Carolina ......... 391 2.79 24,282,474.67 2.94
South Dakota ........... 33 0.24 1,518,770.92 0.18
Tennessee .............. 281 2.00 18,115,010.37 2.20
Texas .................. 646 4.61 28,963,161.34 3.51
Utah ................... 116 0.83 6,518,684.05 0.79
Vermont ................ 8 0.06 267,320.57 0.03
Virginia ............... 353 2.52 24,050,943.20 2.92
Washington ............. 217 1.55 13,617,130.06 1.65
West Virginia .......... 43 0.31 2,184,046.15 0.26
Wisconsin .............. 404 2.88 21,438,688.59 2.60
Wyoming ................ 21 0.15 1,182,819.86 0.14
------ ------ --------------- ------
Total............... 14,015 100.00% $824,994,592.33 100.00%
====== ====== =============== ======
</TABLE>
18
<PAGE>
YEARS OF ORIGINATION--INITIAL AND SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
1990................... 1 $ 114,583.06 0.01%
1995................... 1 17,736.81 0.01
1996................... 4 262,308.82 0.03
1997................... 134 7,624,932.25 0.96
1998................... 13,875 816,975,031.39 98.99
------ --------------- ------
Total.............. 14,015 $824,994,592.33 100.00%
====== =============== ======
</TABLE>
DISTRIBUTION OF ORIGINAL CONTRACT AMOUNTS--INITIAL AND SUBSEQUENT
FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL CONTRACT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AMOUNT (IN DOLLARS) OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than $ 9,999....................... 19 $ 146,964.38 0.02%
Between $ 9,999--$ 19,999............... 2,156 31,592,819.74 3.83
Between $ 19,999--$ 29,999............... 2,033 49,852,302.41 6.04
Between $ 29,999--$ 39,999............... 1,618 56,001,506.88 6.79
Between $ 39,999--$ 49,999............... 1,476 66,211,047.74 8.03
Between $ 49,999--$ 59,999............... 1,358 74,189,134.40 8.98
Between $ 59,999--$ 69,999............... 1,132 73,193,532.58 8.87
Between $ 69,999--$ 79,999............... 965 71,822,214.49 8.71
Between $ 79,999--$ 89,999............... 688 57,877,536.30 7.02
Between $ 89,999--$ 99,999............... 517 48,883,016.12 5.93
Between $ 99,999--$109,999............... 420 44,005,416.73 5.33
Between $109,999--$119,999............... 365 41,721,469.38 5.06
Between $119,999--$129,999............... 270 33,699,895.69 4.08
Between $129,999--$139,999............... 208 27,881,067.78 3.38
Between $139,999--$149,999............... 156 22,605,570.87 2.74
Between $149,999--$159,999............... 122 18,843,798.47 2.28
Between $159,999--$169,999............... 103 16,883,149.81 2.05
Between $169,999--$179,999............... 85 14,776,092.77 1.79
Between $179,999--$189,999............... 49 8,965,814.04 1.09
Between $189,999--$199,999............... 57 11,079,273.01 1.34
Between $199,999--$249,999............... 137 29,936,929.67 3.63
Between $249,999--$299,999............... 45 12,194,538.14 1.48
Over $300,000.......................... 36 12,631,500.93 1.53
------ --------------- ------
Total................................ 14,015 $824,994,592.33 100.00%
====== =============== ======
</TABLE>
19
<PAGE>
CONTRACT RATES--INITIAL AND SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
RANGE OF HOME EQUITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACTS BY CONTRACT RATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- -------------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
From 0.00%-- 9.00%....... 286 $ 32,910,546.31 3.99%
From 9.01%--10.00%....... 1,421 136,933,502.46 16.60
From 10.01%--11.00%....... 3,000 255,626,953.22 30.98
From 11.01%--12.00%....... 2,392 144,932,065.55 17.56
From 12.01%--13.00%....... 3,052 127,772,739.49 15.49
From 13.01%--14.00%....... 2,461 84,131,893.76 10.20
From 14.01%--15.00%....... 895 27,945,520.57 3.39
From 15.01%--16.00%....... 279 8,540,086.19 1.04
From 16.01%--17.00%....... 153 4,396,403.86 0.53
Over 17.01%............... 76 1,804,880.92 0.22
------ --------------- ------
Total................. 14,015 $824,994,592.33 100.00%
====== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY--INITIAL AND SUBSEQUENT FIXED-RATE
HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
MONTHS REMAINING TO CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
SCHEDULED MATURITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 60........... 111 $ 2,298,547.16 0.28%
61-90.................. 95 3,106,012.12 0.38
91-120................. 869 24,497,058.94 2.97
121-150................ 71 3,233,474.84 0.39
151-180................ 5,009 251,553,216.16 30.50
181-210................ 40 1,686,177.63 0.20
211-240................ 4,346 260,739.784.54 31.60
241-270................ 8 829,454.24 0.10
271-300................ 2,008 137,688,325.03 16.69
301-330................ 2 191,350.67 0.02
331-360................ 1,456 139,171,191.00 16.87
------ --------------- ------
Total.............. 14,015 $824,994,592.33 100.00%
====== =============== ======
</TABLE>
LIEN POSITION--INITIAL AND SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------- ------------------- ------------------------
<S> <C> <C> <C>
First................... 8,586 $669,608,896.68 81.17%
Second.................. 5,385 154,466,759.11 18.72
Third................... 44 918,936.54 0.11
------ --------------- ------
Total............... 14,015 $824,994,592.33 100.00%
====== =============== ======
</TABLE>
20
<PAGE>
LOAN-TO-VALUE RATIO--INITIAL AND SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
LOAN-TO-VALUE RATIO OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
From 0.00%-10.00%...... 4 $ 60,816.00 0.01%
From 10.01%-20.00%..... 41 786,887.49 0.10
From 20.01%-30.00%..... 92 2,473,528.10 0.30
From 30.01%-40.00%..... 107 3,526,148.97 0.43
From 40.01%-50.00%..... 160 6,010,968.94 0.73
From 50.01%-60.00%..... 275 12,026,138.21 1.46
From 60.01%-70.00%..... 568 27,206,959.70 3.30
From 70.01%-80.00%..... 1,817 93,482.391.26 11.33
From 80.01%-90.00%..... 4,720 292,286,041.49 35.42
Over 90.01%............ 6,231 387,134,712.17 46.92
------ --------------- ------
Total.............. 14,015 $824,994,592.33 100.00%
====== =============== ======
</TABLE>
21
<PAGE>
Set forth below is a description of certain additional characteristics of the
Initial and Subsequent Adjustable Rate Home Equity Contracts.
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--INITIAL AND SUBSEQUENT
ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
% OF ADJUSTABLE
ADJUSTABLE RATE HOME
RATE HOME EQUITY CONTRACTS
EQUITY CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING
NUMBER OF BY NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- ----------------- ------------------- -----------------
<S> <C> <C> <C> <C>
Alabama ............ 110 4.77% $ 9,613,812.85 3.50%
Arizona ............ 27 1.17 3,465,249.36 1.26
Arkansas ........... 2 0.09 243,260.15 0.09
California ......... 245 10.63 44,246,388.51 16.09
Colorado ........... 91 3.95 12,104,007.16 4.40
Connecticut ........ 5 0.22 583,189.44 0.21
Delaware ........... 1 0.04 167,706.10 0.06
District of Columbia 6 0.26 910,150.00 0.33
Florida ............ 75 3.26 8,135,381.91 2.96
Georgia ............ 86 3.73 9,059,282.96 3.29
Idaho .............. 18 0.78 1,913,394.15 0.70
Illinois ........... 35 1.52 4,428,894.88 1.61
Indiana ............ 56 2.43 4,864,813.90 1.77
Iowa ............... 7 0.30 590,933.91 0.21
Kansas ............. 17 0.74 1,682,936.96 0.61
Kentucky ........... 25 1.09 2,312,761.81 0.84
Louisiana .......... 15 0.65 1,560,418.82 0.57
Maryland ........... 108 4.69 17,536,166.02 6.38
Massachusetts ...... 27 1.17 4,359,198.20 1.59
Michigan ........... 116 5.03 9,722,256.00 3.54
Minnesota .......... 28 1.22 2,647,360.26 0.96
Mississippi ........ 5 0.22 431,378.78 0.16
Missouri ........... 32 1.39 3,103,367.31 1.13
Montana ............ 11 0.48 1,129,126.43 0.41
Nebraska ........... 2 0.09 127,080.82 0.05
Nevada ............. 25 1.09 3,320,847.72 1.21
New Jersey ......... 7 0.30 1,537,756.14 0.56
New Mexico ......... 24 1.04 2,693,778.65 0.98
New York ........... 13 0.56 1,849,641.54 0.67
North Carolina ..... 117 5.08 11,975,011.12 4.35
North Dakota ....... 1 0.04 51,920.72 0.02
Ohio ............... 251 10.89 22,474,108.63 8.17
Oklahoma ........... 3 0.13 147,297.07 0.05
Oregon ............. 95 4.12 12,005,614.38 4.37
Pennsylvania ....... 58 2.52 6,720,780.08 2.44
Rhode Island ....... 7 0.30 749,232.08 0.27
South Carolina ..... 32 1.39 2,872,996.19 1.04
Tennessee .......... 34 1.48 3,112,621.66 1.13
Texas .............. 106 4.60 10,422,803.41 3.79
Utah ............... 66 2.86 8,523,601.50 3.10
Virginia ........... 61 2.65 9,099,442.50 3.31
Washington ......... 203 8.81 27,795,216.29 10.11
West Virginia ...... 5 0.22 220,528.36 0.08
Wisconsin .......... 43 1.87 4,257,165.60 1.55
Wyoming ............ 3 0.13 227,781.32 0.08
----- ------ --------------- ------
Total............... 2,304 100.00% $274,996,661.65 100.00%
===== ====== =============== ======
</TABLE>
22
<PAGE>
YEARS OF ORIGINATION--INITIAL AND SUBSEQUENT ADJUSTABLE RATE
HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
HOME EQUITY
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
1997...................... 94 $ 10,045,405.67 3.65%
1997...................... 2,210 264,951.255.98 96.35
----- --------------- ------
Total................. 2,304 $274,996,661.65 100.00%
===== =============== ======
</TABLE>
DISTRIBUTION OF ORIGINAL CONTRACT AMOUNTS--INITIAL AND SUBSEQUENT ADJUSTABLE
RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
HOME EQUITY
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL CONTRACT AMOUNT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
(IN DOLLARS) OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------------ ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than $ 19,999........ 1 $ 19,240.00 0.01%
Between $ 19,999--
$ 29,999................. 6 160,113.82 0.06
Between $ 29,999--
$ 39,999................. 39 1,410,781.05 0.51
Between $ 39,999--
$ 49,999................. 89 4,030,354.05 1.47
Between $ 49,999--
$ 59,999................. 146 8,030,960.58 2.92
Between $ 59,999--
$ 69,999................. 174 11,292,289.19 4.11
Between $ 69,999--
$ 79,999................. 221 16,415,542.90 5.97
Between $ 79,999--
$ 89,999................. 173 14,605,992.59 5.31
Between $ 89,999--
$ 99,999................. 200 18,984,415.85 6.90
Between $ 99,999--
$109,999................. 182 19,045,210.47 6.93
Between $109,999--
$119,999................. 157 18,043,429.56 6.56
Between $119,999--
$129,999................. 145 18,054,319.50 6.57
Between $129,999--
$139,999................. 121 16,317,568.52 5.93
Between $139,999--
$149,999................. 112 16,207,596.46 5.89
Between $149,999--
$159,999................. 95 14,653,699.08 5.33
Between $159,999--
$169,999................. 64 10,500,980.79 3.82
Between $169,999--
$179,999................. 49 8,533,643.19 3.10
Between $179,999--
$189,999................. 57 10,468,523.84 3.81
Between $189,999--
$199,999................. 31 6,051,797.90 2.20
Between $199,999--
$249,999................. 131 29,261,971.77 10.63
Between $249,999--
$299,999................. 68 18,193,737.11 6.62
Over $300,000............. 43 14,714,493.43 5.35
----- --------------- ------
Total................. 2,304 $274,996,661.65 100.00%
===== =============== ======
</TABLE>
23
<PAGE>
CONTRACT RATES--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME EQUITY
CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
HOME EQUITY
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
RANGE OF CONTRACTS BY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACT RATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
From 0.00%-- 9.00%....... 1,263 $165,845,741.40 60.31%
From 9.01%--10.00%....... 627 71,946,367.11 26.16
From 10.01%--11.00%....... 282 26,617,907.60 9.68
From 11.01%--12.00%....... 76 6,753,558.37 2.46
From 12.01%--13.00%....... 25 2,075,372.68 0.75
From 13.01%--14.00%....... 21 1,167,806.36 0.42
From 14.01%--15.00%....... 4 326,897.10 0.12
From 15.01%--16.00%....... 3 157,674.15 0.06
From 16.01%--17.00%....... 2 72,340.57 0.03
Over 17.01%............... 1 32,996.31 0.01
----- --------------- ------
Total................. 2,304 $274,996,661.65 100.00%
===== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME EQUITY
CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE HOME
NUMBER OF EQUITY CONTRACTS BY
MONTHS REMAINING TO CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
SCHEDULED MATURITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
150-180................... 3 $ 335,487.12 0.13%
210-240................... 1 65,688.34 0.04
270-300................... 1 74,632.25 0.04
330-360................... 2,299 274,520,873.94 99.79
----- -------------- ------
Total................. 2,304 $274,996,661.65 100.00%
===== ============== ======
</TABLE>
LIEN POSITION--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE
RATE HOME % OF
EQUITY ADJUSTABLE RATE HOME
NUMBER OF CONTRACTS BY EQUITY CONTRACTS BY
CONTRACTS NUMBER OF AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- CONTRACTS AS OF BALANCE OUTSTANDING BALANCE AS OF
OFF DATE CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------- --------------- ------------------- ---------------------
<S> <C> <C> <C> <C>
First................... 2,304 100.00% $274,996,661.65 100.00%
----- ------ --------------- ------
Total............... 2,304 100.00% $274,996,661.65 100.00%
===== ====== =============== ======
</TABLE>
24
<PAGE>
LOAN-TO-VALUE RATIO--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME EQUITY
CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE HOME
NUMBER OF EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
LOAN-TO-VALUE RATIO OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than 30.00%.......... 2 $ 89,971.23 0.03%
From 30.01% to 40.00%..... 3 163,680.88 0.06
From 40.01% to 50.00%..... 9 619,493.10 0.23
From 50.01% to 60.00%..... 14 1,212,411.15 0.44
From 60.01% to 70.00%..... 59 6,086,730.37 2.21
From 70.01% to 80.00%..... 553 61,692,014.04 22.43
From 80.01% to 90.00%..... 1,304 159,918,080.70 58.16
Over 90.00%............... 360 45,214,280.18 16.44
----- --------------- ------
Total................. 2,304 $274,996,661.65 100.00%
===== =============== ======
</TABLE>
MONTH OF NEXT RATE ADJUSTMENT--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME
EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MONTH OF NEXT RATE ADJUSTMENT OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ----------------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
July 1998................... 2 $ 198,645.19 0.07%
August 1998................. 6 472,411.11 0.17
September 1998.............. 4 308,798.88 0.11
October 1998................ 8 641,209.93 0.23
November 1998............... 7 832,830.73 0.30
December 1998............... 5 454,809.95 0.17
January 1999................ 1 19,240.00 0.01
March 1999.................. 6 865,939.12 0.31
May 1999.................... 4 585,359.89 0.21
June 1999................... 36 3,346,743.05 1.22
July 1999................... 16 1,814,555.36 0.66
August 1999................. 5 691,237.11 0.25
September 1999.............. 1 72,421.98 0.03
October 1999................ 5 719,870.03 0.26
November 1999............... 12 1,408,239.12 0.51
December 1999............... 13 1,313,941.16 0.48
January 2000................ 18 2,020,415.09 0.73
February 2000............... 34 3,927,598.94 1.43
March 2000.................. 181 21,671,279.14 7.88
April 2000.................. 435 48,363,168.84 17.59
May 2000.................... 498 61,707,578.83 22.44
June 2000................... 580 72,724,626.45 26.46
July 2000................... 335 41,367,311.20 15.04
August 2000................. 63 6,388,313.00 2.32
December 2000............... 1 133,635.00 0.05
January 2001................ 1 34,354.44 0.01
March 2001.................. 6 509,725.53 0.19
April 2001.................. 6 573,904.17 0.21
May 2001.................... 5 468,549.25 0.17
June 2001................... 4 614,199.16 0.22
July 2001................... 4 479,350.00 0.17
August 2001................. 1 126,000.00 0.05
July 2028................... 1 140,400.00 0.05
----- --------------- ------
Total................... 2,304 $274,996,661.65 100.00%
===== =============== ======
</TABLE>
25
<PAGE>
DISTRIBUTION OF GROSS MARGIN--INITIAL AND SUBSEQUENT ADJUSTABLE
RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
GROSS MARGIN OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------ ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 3.999%..... 8 $ 740,946.32 0.27%
4.000 to 4.249%...... 7 577,905.33 0.21
4.250 to 4.499%...... 12 1,838,924.27 0.67
4.500 to 4.749%...... 14 2,102,102.19 0.76
4.750 to 4.999%...... 33 3,816,983.53 1.39
5.000 to 5.249%...... 39 4,674,493.56 1.70
5.250 to 5.499%...... 78 9,293,317.07 3.38
5.500 to 5.749%...... 162 18,758,521.56 6.82
5.750 to 5.999%...... 218 24,123,623.35 8.77
6.000 to 6.249%...... 169 18,022,113.67 6.55
6.250 to 6.499%...... 174 19,972,541.02 7.26
6.500 to 6.749%...... 251 31,209,937.31 11.35
6.750 to 6.999%...... 527 69,560,950.04 25.30
7.000 to 7.249%...... 259 32,291,516.59 11.74
7.250 to 7.499%...... 110 14,019,676.28 5.10
7.500 to 7.749%...... 101 10,766,133.99 3.92
7.750 to 7.999%...... 43 4,206,291.14 1.53
8.000 to 8.249%...... 29 3,013,806.06 1.10
8.250 to 8.499%...... 16 1,489,122.21 0.54
8.500 to 8.749%...... 29 2,872,789.65 1.04
8.750 to 8.999%...... 9 714,732.43 0.26
9.000 to 9.249%...... 6 393,183.17 0.14
9.250 to 9.499%...... 2 124,484.81 0.05
9.500 to 9.749%...... 2 118,518.27 0.04
Over 9.749% ......... 6 294,047.83 0.11
----- --------------- ------
Total............ 2,304 $274,996,661.65 100.00%
===== =============== ======
</TABLE>
26
<PAGE>
MAXIMUM CONTRACT RATES--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME EQUITY
CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MAXIMUM CONTRACT RATES OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 13.000%...... 503 $ 67,895,830.44 24.70%
13.000 to 13.249%...... 19 2,053,051.34 0.75
13.250 to 13.499%...... 19 2,138,734.57 0.78
13.500 to 13.749%...... 51 6,539,851.46 2.38
13.750 to 13.999%...... 176 23,232,876.42 8.45
14.000 to 14.249%...... 43 4,681,271.44 1.70
14.250 to 14.499%...... 91 10,208,197.77 3.71
14.500 to 14.749%...... 129 15,457,002.82 5.62
14.750 to 14.999%...... 255 31,910,888.02 11.60
15.000 to 15.249%...... 107 12,772,042.63 4.64
15.250 to 15.499%...... 136 16,048,951.56 5.84
15.500 to 15.749%...... 90 11,607,459.66 4.22
15.750 to 15.999%...... 154 18,823,012.94 6.84
16.000 to 16.249%...... 33 3,090,154.87 1.12
16.250 to 16.499%...... 84 8,604,945.20 3.13
16.500 to 16.749%...... 57 6,146,383.68 2.24
16.750 to 16.999%...... 120 13,073,454.62 4.75
17.000 to 17.249%...... 36 3,063,497.53 1.11
17.250 to 17.499%...... 38 3,314,127.02 1.21
17.500 to 17.749%...... 33 3,264,024.01 1.19
17.750 to 17.999%...... 51 4,408,960.42 1.60
18.000 to 18.249%...... 12 1,022,440.97 0.37
18.250 to 18.499%...... 13 1,304,807.00 0.47
18.500 to 18.749%...... 6 627,640.79 0.23
18.750 to 18.999%...... 11 1,179,906.98 0.43
19.000 to 19.249%...... 4 243,911.00 0.09
19.250 to 19.499%...... 11 1,017,941.72 0.37
19.500 to 19.749%...... 3 190,769.90 0.07
19.750 to 19.999%...... 8 455,830.01 0.17
Over 19.999%........... 11 618,694.86 0.22
----- --------------- ------
Total.............. 2,304 $274,996,661.65 100.00%
===== =============== ======
</TABLE>
27
<PAGE>
MINIMUM CONTRACT RATES--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME EQUITY
CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MINIMUM CONTRACT RATES OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 7.250%...... 38 $ 6,767,604.77 2.46%
7.250 to 7.499%...... 6 953,378.88 0.35
7.500 to 7.749%...... 95 14,535,176.05 5.29
7.750 to 7.999%...... 359 51,071,888.25 18.58
8.000 to 8.249%...... 50 6,306,698.18 2.29
8.250 to 8.499%...... 166 20,607,484.66 7.49
8.500 to 8.749%...... 209 25,657,774.63 9.33
8.750 to 8.999%...... 316 37,026,810.15 13.46
9.000 to 9.249%...... 128 14,241,044.39 5.18
9.250 to 9.499%...... 178 19,671,161.99 7.15
9.500 to 9.749%...... 134 16,716,622.41 6.08
9.750 to 9.999%...... 201 23,016,922.83 8.37
10.000 to 10.249%...... 57 5,620,037.97 2.04
10.250 to 10.499%...... 77 7,327,421.22 2.66
10.500 to 10.749%...... 59 5,620,133.86 2.04
10.750 to 10.999%...... 85 8,259,129.32 3.00
11.000 to 11.249%...... 27 2,067,931.84 0.75
11.250 to 11.499%...... 24 1,863,613.29 0.68
11.500 to 11.749%...... 16 1,733,263.16 0.63
11.750 to 11.999%...... 19 1,724,106.74 0.63
12.000 to 12.249%...... 10 761,506.09 0.28
12.250 to 12.499%...... 9 996,086.44 0.36
12.500 to 12.749%...... 1 45,799.55 0.02
12.750 to 12.999%...... 9 647,350.49 0.24
13.000 to 13.249%...... 2 144,596.58 0.05
13.250 to 13.499%...... 10 471,478.45 0.17
13.500 to 13.749%...... 3 190,769.90 0.07
Over 13.750%........... 16 950,869.56 0.35
----- --------------- ------
Total................ 2,304 $274,996,661.65 100.00%
===== =============== ======
</TABLE>
28
